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Dec 31, 2020
Celldex Q4 2020 Earnings Report
Reported business and financial highlights for the fourth quarter and year ended December 31, 2020.
Key Takeaways
Celldex Therapeutics reported a net loss of $21.9 million for the fourth quarter of 2020, with total revenue of $3.8 million. The company's cash, cash equivalents, and marketable securities totaled $194.4 million as of December 31, 2020, which they believe is sufficient to fund planned operations through 2023. They also had significant progress across their pipeline, especially with CDX-0159.
Observed an 80% complete response rate in a Phase 1b study of CDX-0159 in chronic inducible urticaria.
Expanded the CDX-0159 study to include patients with cholinergic urticaria.
Initiated a Phase 1 study of CDX-527, the first candidate from their bispecific platform.
Recorded a non-cash partial impairment charge of $14.5 million related to the TAM program IPR&D asset.
Celldex
Celldex
Forward Guidance
Celldex believes that the cash, cash equivalents and marketable securities at December 31, 2020 are sufficient to meet estimated working capital requirements and fund planned operations through 2023.